345: Next New Jersey Manufacturing Program Tax Credit (2025)
New Jersey · NJ Division of Taxation · Used for tax years 2025
New Jersey Form 345 is used to claim the Next New Jersey Manufacturing Program Tax Credit against Corporation Business Tax. It calculates the available credit, the amount allowed for the current tax period, and any unused credit carried forward, including for combined return file
Who files this form
Use Form 345 to claim the Next New Jersey Manufacturing Program Tax Credit. The credit is available to eligible businesses primarily engaged in manufacturing or clean energy manufacturing. Taxpayers that purchased the credit through the Economic Development Authority tax benefit transfer program may also use this form, subject to the applicable transfer rules and limits.
Part I requires “YES” answers to both questions: whether the taxpayer has New Jersey Economic Development Authority approval and whether it has received a tax credit or credit transfer certificate from the New Jersey Division of Taxation.
For a combined return, the member that earned the credit must complete the form.
Taxpayers must include the appropriate credit form in the year the credit was earned or the year the certificate is issued, even if they are not claiming the credit on that return.
What you'll need
- A completed Form 345.
- The CBT-100, CBT-100S, or CBT-100U return with which Form 345 must be included.
- A copy of the tax credit certificate or credit transfer certificate, signed by all parties.
- A copy of the completed Form 345 to mail with the certificate.
To complete the calculations, have the approved credit amount for the current period, any prior-period credit carryover, tax liability, and other credits already applied to that liability available. Combined return filers that are not sharing the credit also need the group and member allocation factors from Schedule J, line 9.
How to file
- Enter the taxpayer name and identification numbers. Combined return filers must mark the combined-return box. Members not sharing their credit must also fill in the nonsharing oval.
- Complete Part I. If either answer is “NO,” stop. Otherwise, check the certificate-submission box to indicate that a copy has been submitted to the Division of Taxation.
- Complete Part II to add the approved current-period credit and prior-period carryover.
- CBT-100 and CBT-100S filers complete Part III. CBT-100U filers skip Part III and complete Part IV, Section A. Members not sharing their credit also complete Section B.
- Enter the allowable credit on Schedule A-3, Part I of the applicable return, as directed on Form 345. Include the completed Form 345 with the return.
Mail supporting copies separately: Send a copy of the certificate, signed by all parties, and a copy of the completed Form 345 to:
New Jersey Division of Taxation
Grant and Credit Review Unit
PO Box 272
Trenton, NJ 08695-0272
Common mistakes
- Continuing after a “NO” in Part I. If either qualification answer is “NO,” do not complete the rest of the form. The taxpayer is not eligible for the credit.
- Not mailing the required documentation. Failure to mail the signed certificate copy and completed Form 345 copy will delay or may result in denial of the claimed credit.
- Leaving out the credit form because no credit is being claimed. The instructions require the appropriate credit form in the year the credit was earned or the certificate is issued, even without a claim that year.
- Completing the wrong calculation section. Combined return filers must use Part IV, not Part III. Members not sharing must complete both Sections A and B and mark the nonsharing oval.
- Omitting other credits already applied. List those credits on line 9, 16, or 23, as applicable, so the allowable-credit calculation is accurate.
Questions people ask
Can unused credit be carried forward?
Yes. An original recipient or credit purchaser may carry forward unused credit for 10 successive tax periods from the tax period for which the certificate was issued. This period does not change based on when the credit is first claimed.
Can the credit reduce tax below the minimum tax or offset the Corporate Transit Fee?
No. The credit cannot reduce tax liability below the statutory minimum tax and cannot be used against the Corporate Transit Fee.
Must a combined-group member share its credit?
No. A member may choose not to share. It must mark the nonsharing oval and complete Part IV, Sections A and B. Its credit is limited by both its share of the group tax liability and the amount that would otherwise be allowed against the group’s tax liability.
Is there a limit on how much credit can be taken in one tax period?
Yes. No more than the total credit amount divided by the tax credit term in years may be taken in any tax period.